People in the News

CA Gasoline Sales Push Oil Demand

Motorists in California purchased more gasoline in October 2014 than any corresponding month since 2007, according to state tax records, confirming the renewed growth in U.

West Coast Port Talks Clear Hurdle

Shipping companies and the union for 20,000 dockworkers at nearly 30 U.S. West Coast ports have cleared a major hurdle in their protracted labor talks, clinching

Yinson Wins $2.5 bln Ghana Oil & Gas Contract

Yinson Holdings Bhd , Malaysia's oil and gas services firm, said on Wednesday it secured a $2.54 billion floating production, storage and offloading (FPSO) vessel

Shell Inks Iraqi Petrochemicals Plant Deal

Royal Dutch Shell signed deal with Iraq worth $11 billion to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser al-Esawi said on Wednesday.

Weatherford Drops COO Role Amid Oil Slump

Oil services company Weatherford International Plc said it would eliminate the position of chief operating officer as it copes with a 60 percent slide in global crude oil prices.

Petrobras Refinery Plans Shelved

Petrobras has dropped plans to build two low-sulfur diesel refineries in Brazil's northeast, writing off the value of work already done on them, the Brazilian state-run

Sasol Delaying LA GTL Investment

Sasol announces plan to respond to the low oil price environment.   Accoding to Reuters, certain decisive measures have been agreed to and are being implemented

Crude Decline Cut Both Ways for Miners

The plunge in oil prices is a double-edged sword for many miners, lowering the cost of production but at the same time cutting the value of the commodities they produce.

Brent slips to $49 on U.S. Crude Stocks

U.S. crude stocks up 12.7 mln barrels last week (API). Oil slipped to $49 a barrel on Wednesday after an industry report said U.S. crude stocks rose by the most in two decades last week,

Petrobras Taking Graft-linked Q4 Writedown

Brazil's state-run oil company Petrobras is likely to take a corruption-related charge against earnings in its 2014 fourth-quarter audited financial statement expected by the end of April,

UK Council Defers Shale Permit Decision

A local English government council has voted to delay a decision on whether shale gas firm Cuadrilla can progress with two fracking projects, in a case that is

Plunging Oil Strengthens Ukraine's Hand with Russia Gas

Ukraine has cut Russian gas imports and Gazprom cannot afford to lose Ukraine. Ukraine has a stronger hand to play at talks with Russia on gas supplies thanks to the fall in oil prices,

Hess Reverses 2013 Results with 4Q Loss

Oil and natural gas producer Hess Corp reported a loss compared with a profit a year earlier, when it reported after-tax gains of $1.34 billion related to asset sales.

Drillsearch Reports Robust Performance

  Drillsearch delivered a strong operating performance in the December quarter against a backdrop of challenging conditions that affected the oil and gas sector globally.

Russia – Turkey Gas Pipeline Approved

  Ankara hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Taner Yildiz, Turkish Minister of Energy and Natural Resources.

Santa Lucia Back Underway in Delaware Bay

  The motor vessel Santa Lucia, which was aground in Delaware Bay, got back underway under its own power at approximately 3 p.m. Tuesday. The Santa Lucia is

Port of Le Havre Calls for EOI for Storage Facility

  Port of Le Havre has called Expression of Interest (EOI) for Storage facility for liquid Bulks to be set up inside the port. The Grand Port Maritime du Havre (GPMH),

Magnolia Inks Gas Pipeline Deal

  Magnolia    LNG. wholly    owned    subsidiary of Liquefied    Natural    Gas    Limited    executed    a    Gas    Pipeline    Interconnect Agreement     (PIA)   

NOIA: Draft Offshore Lease Program Both Hits and Misses

National Ocean Industries Association (NOIA) President Randall Luthi issued a statement on the 2017-2022 Draft Proposed OCS Oil and Gas Leasing Program, stating the U.

Matiss Backs European Shipping Week

The Presidency of the Council of the European Union has granted official patronage to the forthcoming European Shipping Week (ESW) which will be held in Brussels during March 2‐6, 2015.

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